Lexington Council to Decide About Surplus

Sep 30, 2013

Credit lexingtonky.org

Lexington City leaders will again try to decide how to spend over two million dollars in surplus funds.   The third time may be a charm.  Council has twice delayed action, but a final vote is scheduled for Tuesday.  As initially proposed, the money would be divided evenly among council members, who each would decide how it's spent. Now, a revised proposal has the entire council setting priorities for that pool of money.

  The money would likely go primarily for neighborhood projects.  A vote was scheduled for last week, but Council member Kevin Stinnett felt more time was needed so they can get an update on city revenues...

“It can make it more palatable for some people.  Keep in mind, it’s just a number on a page.  Council controls the entire fund balance, so we can well above that, we can go well below that, but ultimately we need to decide it in the grand scheme of everything we’re looking at,” said Stinnett.

Council member Shevawn Akers says parks, trails, and other recreational facilities deserve additional funds.  She says Council members are identifying their district needs.

“Council members submitted a list to be considered at the next budget and finance committee meeting of individual projects in our districts or the city as a whole, how we would like to see the surplus spent, or not even the surplus, but how we would like to see the projects funded.  Then, we go and look at how much money do we have and we just prioritize the list.  I assume that is what will happen,” added Akers.

On Tuesday, City Finance Commissioner Bill Omara is expected to provide both a revenue update and projections on the size of Lexington's surplus.